View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
January 19, 1989


By CBR Staff Writer

The privately held company on the distribution side of the business that Cifer Plc hopes to acquire (CI No 1,090) turns out to be Ferrari Computer Services Ltd, Egham, Surrey, which is effectively reversing into the deeply troubled Melksham, Wiltshire display manufacturer to gain a quotation for itself if Cifer holders agree to this drastic change in direction for their company. Cifer proposes to issue 80m new shares for Ferrari, representing 50% of the enlarged share capital, and Ferrari chairman Bob Woodland will become chairman of the combined group. Ferrari is valued at UKP9.6m at the knock-down 12 pence at which Cifer shares were suspended, but the valuation should come out rather better than that when the shares start trading again – if the deal is approved. Ferrari is a personal computer products distributor, has an applications software arm, and also provides warehousing services and logistics management, and it made pre-tax profits of UKP1.1m on UKP18.4m turnover in the year to March 1988 – pretty ancient history 10 months later. The new Cifer is to be holding company for several small computer businesses, implying that a string of further acquisitions are in the plan.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.